In order to strengthen its position as a significant player in the travel and tourism sector, EaseMyTrip.com, one of India’s largest online travel tech platforms, has announced that its board has approved the acquisition of 51% of the combined paid-up share capital of each of the three well-known travel companies with Indian incorporation. EaseMyTrip would issue equity shares to the selling shareholders of the respective target firms on a preferential basis as payment for the proposed acquisition.
In order to establish a strong market presence, EaseMyTrip, which has historically been one of India’s favoured travel partners, is actively growing through acquisitions. Guideline Travels Holidays India Private Limited in Mumbai, TripShope Travel Technologies Private Limited in Jammu and Kashmir, and Dook Travels Private Limited in New Delhi are the three diverse businesses that the company wants to buy.
Mumbai-based Guideline Travels Holidays India Private Limited
A well-known travel agency that succeeds in both B2C and B2B markets is Guideline Travels. The business offers a wide range of products, including international group tours, customised FIT trips, scheduled departures, and MICE movements, but its primary activity is cruises.
Jammu & Kashmir’s TripShope Travel Technologies Private Limited:
A Kashmir-based company called TripShope Online offers a variety of travel-related products, such as flights, vacations, hotels, and more. The company has built a devoted customer base as a result of its commitment to offering top-notch travel experiences at the lowest rates possible.
New Delhi-based Dook Travels Private Limited:
Dook Travels is a well-known integrated travel management company with offices in India, the UAE, Turkey, and the CIS. With a large customer base of more than 1 lakh tourists served over the course of the past eight years, the company has established itself as the largest DMC for CIS nations.
Nishant Pitti, co-founder of EaseMyTrip, commented on the acquisition, saying, “These three companies have a great track record and a plethora of experience in their respective fields. Together with these outstanding travel agencies, we embrace and extend to a wide range of unique services geared towards broader markets. Together, we have the power to stoke the wanderlust of countless adventurers by planning extraordinary adventures that speak to everyone’s soul and colour the world with the hues of exploration and adventure.
We desired an aggressive online selling platform for cruise products worldwide because we were pioneers in the cruise selling industry. We have a strong incentive to offer a variety of cruise solutions to both our B2B and B2C clients thanks to our cooperation with EaseMyTrip. Partnership with EaseMyTrip broadens our perspectives and enables us to realise our mission, elevating Guideline Travels to new levels. Director at Guideline Travels, Pradeep Saboo.
“This is going to be a quantum leap in the travel, tourism, and employment generation of Jammu and Kashmir,” Adil Sathu, founder and COO of Tripshope, said. Along with other regions of the country, he continued, “EaseMyTrip’s brand equity is going to help us expand in Jammu and Kashmir as well.”
“Due to improved air connectivity, easier visa requirements, and warm bilateral relations with India, tourism to CIS areas is expected to increase tremendously over the next few years.
Through our enormous agent network, command over the airlines, and EaseMyTrip’s extensive customer name and brand value, we will be able to exploit our positions as industry leaders in CIS destinations.
EaseMyTrip pledges to uphold the acquired companies’ distinct identities while creating synergies to increase operational effectiveness and provide customers with better value. All interested parties should benefit from increased growth, innovation, and a better travel experience as a result of the pooling of people, resources, and knowledge.
Source- Travel biz